Vertical integration is all the rage as companies scramble to compete in artificial intelligence and decarbonisation. They believe that exerting more sway over suppliers and sales channels will help them speed innovation and cope with geopolitical disruption. But is it better to buy the necessary supplies and smarts, develop them in-house or find some way to strike a partnership?

Last year, General Motors purchased a lithium mine to secure crucial minerals for its electric vehicles. Chinese rival BYD already controls most of its supply chain, down to the ships that transport its cars and it is reportedly on the hunt for acquisitions as it looks to expand.

Apple this week announced a partnership with OpenAI to integrate ChatGPT into its devices. It is seeking to catch up with rival Microsoft, which got in early with the AI start-up and has now put in $13bn and incorporated its technology into multiple products. Meanwhile, Google owner Alphabet, an early AI leader because of its 2014 purchase of DeepMind, is building its own large language models and recently bumped up development of proprietary chips to power its offerings.